How much is the iodine market worth, and how is it expected to expand?
The iodine market size has grown strongly in recent years. It will grow from $2.71 billion in 2024 to $2.95 billion in 2025 at a compound annual growth rate (CAGR) of 8.87%. The growth in the historic period can be attributed to increasing demand in the medical sector, increasing utilization in water treatment, growing veterinary applications, increasing demand for biocides and disinfectants, and increasing fluctuations in crude iodine prices.
The iodine market size is expected to see strong growth in the next few years. It will grow to $4.09 billion in 2029 at a compound annual growth rate (CAGR) of 8.50%. The growth in the forecast period can be attributed to increasing demand in the medical sector, increasing utilization in water treatment, growing veterinary applications, increasing demand for biocides and disinfectants, and increasing fluctuations in crude iodine prices. Major trends in the forecast period include advanced membrane separation technologies, smart disinfection and antimicrobial products, nanotechnology and iodine nanoparticles, next-generation iodine-containing pharmaceuticals, and iodine-enhanced LED and OLED technologies.
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Which industry factors have accelerated the iodine market’s expansion?
The rising prevalence of chronic diseases is expected to propel the growth of the iodine market going forward. Chronic diseases refer to long-lasting health conditions that persist for an extended period, typically longer than three months, and often progress slowly over time. The rising prevalence of chronic diseases, such as thyroid disorders, cardiovascular diseases, and cancer, drives the demand for iodine due to its critical role in medical imaging, pharmaceutical applications, and dietary supplements aimed at managing and preventing these conditions. Iodine plays a vital role in managing chronic diseases by supporting thyroid function, regulating metabolism, enhancing immune response, and reducing inflammation, which collectively contribute to improved overall health and disease resilience. For instance, in January 2023, according to the National Library of Medicine, a US-based medical library, it is predicted that 142.66 million Americans 50 and older are expected to suffer from at least one chronic illness by 2050. Therefore, the rising prevalence of chronic diseases is driving the growth of the iodine market.
What are the primary segments of the iodine market?
The iodine market covered in this report is segmented –
1) By Form: Inorganic Salts And Complexes, Elemental And Isotopes, Organic Compound
2) By Source: Underground Brines, Seaweeds, Caliche Ore, Recycling
3) By Application: Pharmaceuticals, Biocides, Iodophors, X-Ray Contrast Media, Catalyst In Polymer Processing, Optical Polarizing Films, Human Nutrition, Fluorochemicals, Animal Feed, Other Applications
Subsegments:
1) By Inorganic Salts And Complexes: Sodium Iodide, Potassium Iodide, Calcium Iodate
2) By Elemental And Isotopes: Elemental Iodine, Iodine-131, Iodine-123
3) By Organic Compound: Iodophors, Iodinated Contrast Media, Iodinated Organic Chemicals
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Which firms are leading the iodine market?
Major companies operating in the iodine market are Sociedad Química y Minera de Chile S.A., MilliporeSigma, Albemarle Corporation, ACF Minera S.A., BASF SE, Nippoh Chemicals Co. Ltd., ISE Chemicals Corporation, Algorta Norte S.A., Godo Shigen Co. Ltd., Iofina plc, American Elements, Chemlock Metals Corporation, Iochem Corporation, Deepwater Chemicals Inc., Kanto Chemical Co. Inc., Eskay Iodine, Salvi Chemicals Industries Limited, Azer Yod LLC, SAGAR Life Sciences Private Limited, Junsei Chemical Co. Ltd.
Which market trends are set to define the future of the iodine market?
Major companies operating in the iodine market are focusing on developing innovative products, such as iodized salt, to address iodine deficiencies and improve public health, particularly in regions with high prevalence of deficiency-related disorders. Iodized salt is table salt that has been fortified with iodine, a vital trace mineral that helps prevent iodine deficiency, which can lead to thyroid-related health issues such as goiter and developmental problems. For instance, in February 2022, Tata Consumer Products Limited, an India-based fast-moving consumer goods company, launched Shuddh by Tata Salt, a premium iodized salt product aimed at providing high-quality salt with enhanced purity and promoting better health by addressing iodine deficiency in Indian households. This premium product is designed to provide not only superior purity but also a consistent and reliable source of iodine, addressing the growing concern of iodine deficiency in the country. The salt is carefully sourced and refined, ensuring that it meets high standards of quality and safety. It emphasizes the brand’s commitment to improving public health by making iodine accessible to a wider audience, contributing to better overall well-being, particularly for families and individuals seeking to enhance their daily nutrition.
Which geographic trends are shaping the iodine market, and which region has the highest market share?
Europe was the largest region in the iodine market in 2024.Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the iodine market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
What Does The Iodine Market Report 2025 Offer?
The iodine market research report from The Business Research Company offers global market size, growth rate, regional shares, competitor analysis, detailed segments, trends, and opportunities.
Iodine refers to a chemical element with the symbol I and atomic number 53, belonging to the halogen group in the periodic table, alongside fluorine, chlorine, bromine, and astatine. It is utilized in various applications, including as a disinfectant, in the production of thyroid hormones, in medical imaging, and as an additive in iodized salt to prevent iodine deficiency.
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